Product Code: 68335
The progressing cavity pump market expected to witness significant growth of CAGR greater than 5% majorly due to increase in the demand from major end user industries such as oil & gas, water & wastewater, chemicals & petrochemicals, food & beverage, etc. However, technology advancement in alternative option of conventional pump such as solar pump are expected to hinder the progressing cavity pump market during the forecast period.
- The water & wastewater sector is expected to dominate the market growth owing to development of water and wastewater infrastructure due to surging demand for clean water. The demand for pumps from water and wastewater industry is growing rapidly on account of massive development of water infrastructure. This, in turn, is expected to propel the progressing cavity pump market during the forecast period
- The manufacturing of pumps have witnessed combination of 3D printing technology combines with computer modelling has led to a cutting edge development in pump design, repair and replacement which, in turn, drives the global market for progressing cavity pumps and provide opportunity for the market in coming future.
- Asia-Pacific dominated the market growth across the globe in 2018, with most of the demand coming from China and India, owing to rising economies and growing population. The Asia Pacific is the fastest-growing region and this trend is expected to be the same in forecast period.
Key Market Trends
Waste & Wastewater Sector to Dominate the Market
- Most of the human and industrial activities that use water produce wastewater. As the overall demand for water grows, the quantity of wastewater produced, and its overall pollution load are continuously increasing worldwide. As a result, the governments across the world have introduced strict policies and regulations regarding wastewater treatment for both municipal and industrial sector.
- Around two-thirds of the world's population lives in areas that experience water scarcity for at least one month a year. Around 50% of the people facing this level of water scarcity lives in India and China. Therefore, the demand for treatment for wastewater produced as a result of human and industrial sector water usage is expected to grow, in order to improve the efficiency of water usage and meet the water demands.
- Moreover, on an average, high-income countries treat about 70% of the industrial and municipal wastewater it generates. That ratio drops to 38% in upper-middle-income countries and about 28% in lower-middle-income countries. With increasing awareness about environment and growing water shortage, the demand for water treatment plants and, in turn, pumps in water treatment plants is expected to increase in the developing countries.
- Furthermore, the modular design of wastewater treatment plant has also reduced the initial heavy investment challenge and allows an economical solution. These plants can readily be expanded as the wastewater flow and in turn capacity requirement of treatment plant increases. Due to this new trend in the water treatment industry, relatively smaller industries have started installing water treatment plants.
- Therefore, the growing concerns regarding the environmental impact of wastewater and water scarcity, stricter government regulation, and declining cost of water treatment plants are expected to drive the water treatment industry, and in turn, demand for progressing cavity pump during the forecast period.
Asia-Pacific to Dominate the Market Growth
- Asia-Pacific is witnessing huge economic growth which has resulted in the development of industrial infrastructure. The industrial infrastructure in the region witnessing growth with policy level focus on driving the industrial sector.
- Most of the countries in the Asia-Pacific region is in a growing phase and the high rate of population growth has led to increased requirement for water supply. The water demand in China and India grew significantly in recent years and is expected to do the same in forecast period, leading to an increase in water and wastewater management sector, which in turn is expected to increase the market for progressing cavity pumps.
- India's investment in refining and petrochemicals industry is expected to pave a way for the progressing cavity pump market in India. Refining capacity of India grew to 22495.43 TMT in March 2019, an increase of 6.51% from March 2018. Refining capacity of China is also on the rise, with a recent contract for 1 MTA ethylene and refinery expansion project of Sinochem Quanzhou Petrochemical.
- Most of the countries in the Asia-pacific region have positive outlook pertaining to industries such as water and wastewater, oil & gas, etc. which, in turn, are expected to drive the demand for progressing cavity pumps during the forecast period.
The progressing cavity pump market is partially consolidated due to limited number of companies operating in the industry. The key players in this market includeSchlumberger Limited., National-Oilwell Varco, Inc., Xylem Inc, NETZSCH Group, PCM Group, Weatherford International plc, Halliburton Company, Baker Hughes Co, Apergy Corp amongst others.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast, in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Market Dynamics
- 4.4.1 Drivers
- 4.4.2 Restraints
- 4.5 Supply Chain Analysis
- 4.6 Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Consumers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitutes Products and Services
- 4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Power Rating
- 5.1.1 Up to 50 HP
- 5.1.2 Between 51 to 150 HP
- 5.1.3 Above 150 HP
- 5.2 End User
- 5.2.1 Water & Wastewater
- 5.2.2 Oil & Gas
- 5.2.3 Chemicals & Petrochemicals
- 5.2.4 Food & Beverage
- 5.2.5 Others
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Schlumberger Limited
- 6.3.2 National-Oilwell Varco, Inc.
- 6.3.3 Xylem Inc
- 6.3.4 NETZSCH Group
- 6.3.5 PCM Group
- 6.3.6 Weatherford International plc
- 6.3.7 Halliburton Company
- 6.3.8 Borets Company
- 6.3.9 Baker Hughes Company
- 6.3.10 Apergy Corp
7 MARKET OPPORTUNITIES AND FUTURE TRENDS